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Iran will accept gold as payment for its oil

Straits Times
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In trade with foreign nations Iran will not limit itself to the US dollar. Our trade partners may provide payment in its own currency. If the country wishes, it can pay us in gold, and we will accept it without any reservations," Bahmani said on Wednesday.

Iran’s move is part of its efforts to move away from the hegemony of the petro-dollar. The United States has applied sanctions on entities that trade with Iran. It also successfully pressured Belgium’s SWIFT, owner of the SWIFT system, to refrain from doing business with Iranian banks, Bloomberg reported.

According to the IRNA news agency, any nation can pay in its own currency, and Iran has already accepted goods as payment from China and India.